Coty Inc (NYSE:COTY) – DA Davidson reduced their FY2020 earnings per share estimates for shares of Coty in a report released on Tuesday, September 3rd, Zacks Investment Research reports. DA Davidson analyst L. Weiser now anticipates that the company will earn $0.72 per share for the year, down from their previous estimate of $0.77. DA Davidson currently has a “Neutral” rating and a $10.50 target price on the stock. DA Davidson also issued estimates for Coty’s FY2021 earnings at $0.78 EPS.
Coty (NYSE:COTY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Coty had a positive return on equity of 6.89% and a negative net margin of 43.76%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year.
COTY has been the topic of several other research reports. Barclays reissued a “neutral” rating on shares of Coty in a research note on Friday, August 30th. Exane BNP Paribas started coverage on Coty in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $17.00 target price on the stock. Stifel Nicolaus cut their target price on Coty from $13.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, August 20th. Morgan Stanley cut their target price on Coty from $10.90 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Royal Bank of Canada set a $14.00 target price on Coty and gave the company a “buy” rating in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. Coty has a consensus rating of “Hold” and a consensus price target of $11.73.
Shares of COTY opened at $10.74 on Wednesday. Coty has a 12-month low of $5.91 and a 12-month high of $14.14. The stock’s fifty day simple moving average is $9.92 and its 200-day simple moving average is $11.38. The company has a quick ratio of 0.61, a current ratio of 0.94 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $7.75 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.27 and a beta of 0.74.
Several institutional investors and hedge funds have recently modified their holdings of COTY. OppenheimerFunds Inc. lifted its stake in shares of Coty by 3,576.5% in the 1st quarter. OppenheimerFunds Inc. now owns 3,791,689 shares of the company’s stock valued at $43,604,000 after purchasing an additional 3,688,556 shares during the period. Balyasny Asset Management LLC grew its holdings in shares of Coty by 333.9% in the second quarter. Balyasny Asset Management LLC now owns 2,995,806 shares of the company’s stock valued at $40,144,000 after acquiring an additional 2,305,444 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Coty by 21.9% in the second quarter. Invesco Ltd. now owns 8,502,059 shares of the company’s stock valued at $113,927,000 after acquiring an additional 1,527,527 shares in the last quarter. Laurion Capital Management LP grew its holdings in shares of Coty by 2,237.4% in the first quarter. Laurion Capital Management LP now owns 1,403,928 shares of the company’s stock valued at $16,145,000 after acquiring an additional 1,343,865 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Coty by 354.6% in the first quarter. First Trust Advisors LP now owns 1,712,310 shares of the company’s stock valued at $19,692,000 after acquiring an additional 1,335,652 shares in the last quarter. Institutional investors own 38.53% of the company’s stock.
In related news, CMO Fiona Hughes acquired 210,000 shares of the stock in a transaction on Thursday, September 5th. The shares were purchased at an average price of $9.81 per share, for a total transaction of $2,060,100.00. Following the purchase, the chief marketing officer now directly owns 210,000 shares in the company, valued at $2,060,100. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert S. Singer acquired 20,000 shares of the stock in a transaction on Friday, August 30th. The shares were bought at an average price of $9.49 per share, for a total transaction of $189,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 507,000 shares of company stock valued at $4,885,580. Corporate insiders own 1.20% of the company’s stock.
The business also recently declared a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.125 dividend. The ex-dividend date is Friday, September 6th. This represents a yield of 5.3%. Coty’s dividend payout ratio is 76.92%.
Coty Company Profile
Coty Inc, together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide. It operates in three segments: Luxury, Consumer Beauty, and Professional Beauty. The Luxury segment offers prestige fragrances, and skincare and cosmetics products through various retailers, including perfumeries, department stores, and duty-free shops under the Alexander McQueen, Balenciaga, Burberry, Bottega Veneta, Calvin Klein, Cavalli, Chloe, Davidoff, Escada, Gucci, Hugo Boss, Jil Sander, Joop!, Lacoste, Lancaster, Marc Jacobs, Miu Miu, philosophy, Stella McCartney, and Tiffany & Co brands.